Free Trial

‌‌(Z2)‌‌ Pierces Resistance At The 20-Day EMA

US 10YR FUTURE TECHS
  • RES 4: 116-11 50.0% retracement of the Aug 2 - Sep 28 bear leg
  • RES 3: 115-26 50-day EMA
  • RES 2: 114-31+ 38.2% retracement of the Aug 2 - Sep 28 bear leg
  • RES 1: 113-30 High Oct 4
  • PRICE: 112-12 @ 15:04 BST Oct 5
  • SUP 1: 111-20+/110-19 Low Sep 29 / Low Sep 28
  • SUP 2: 110-00 Psychological Support
  • SUP 3: 109 07 3.0% 10-dma envelope
  • SUP 4: 109-23+ Low Nov 30 20074 (cont)

Treasuries traded higher Monday, but have partially reversed the week’s strength into the Wednesday close. To the upside, the contract has pierced the 20-day EMA, which intersects at 113-26+. A clear break would signal scope for an extension of the current correction and open 114-31+, a Fibonacci retracement. The recovery from last week’s lows is considered corrective and is allowing an oversold trend condition to unwind. Initial support is at 111-20+, the Sep 29 low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.